“Dealers are working with lenders
like Tidewater, Capital One, 722 Redemption, Prestige Financial, Wachovia and
many others to offer quality loans. These lenders are looking for the
fresh bankruptcies. What they are avoiding are the consumers heading
toward bankruptcy,” said Robert Davies, president of www.OnlineBKmanager.com.

“We have been booking
fresh bankruptcy deals since the year 2000, and historically they are by far
our best-performing loans,” explained Dedra Muffley of Tidewater Motor Credit.
“We are looking to do away with the non-bankruptcy paper or customers who look
like they are on their way down. We want the customers that have their problems
behind them.”

As of March 13, 2009, there are
nearly one million open bankruptcies being processed for discharge by the U.S.
bankruptcy courts.

“In 2009, bankruptcy marketing
will continue to prove its value to automotive retailers throughout the U.S.,”
concluded Davies.